Deferred Tax (Vernon Co)

Hi,

Extract from Vernon Co:

(iv) “During the year, Vernon Co revalued its head office for the first time, resulting in an
increase in value of $12m at 31 December 20X8. Deferred tax is applicable to this gain
at 25%.”

Why is the deferred tax charge on the revaluation gain ($12m x 25% = $3m) not deducted within “tax expense” on the P&L. It has only been deducted under OCI.